Connolly Statement on Republican Bill to Gut Dodd-Frank
Congressman Gerry Connolly (D-VA) released the following statement after House Republicans voted today to gut Dodd-Frank protections:
"House Republicans have once again voted to gut critical Dodd-Frank consumer protections, leaving American consumers at risk of another Great Recession. Can Dodd-Frank be improved? Of course. But we cannot simply turn a blind eye to the reckless practices that brought our economy to the brink of collapse. The failed Republican practices of the past resulted in more than 11 million Americans losing their homes, double-digit unemployment, and $13 trillion in lost wealth. We cannot go back to that. We need smart and responsive safeguards that will protect consumers, allow businesses to flourish, and continue to grow our economy."